What is the notice period in India?
Please reference the Basic Country Requirements in India article.
Is unused leave paid out at the time of termination?
Any accrued leave, but unused annual leave must be paid out to the employee upon termination.
What is the severance payment in India?
There is generally no statutory severance in India for non-workmen (an employee who performs a mainly managerial or administrative role is generally regarded as a non-workman). That said, if a non-workman has at least five years of service, they are entitled to a statutory gratuity of 15 days' salary for each year of service.